98484/49242 BAC Sep02 16/15.5 call spreads went up in 2 blocks on the PHLX marked spread.?
Shares of Bank of America Corp (BAC) are up .25 to 16.08 today.? ?BAC is near the upper end of the 52 week range.
- Paper traded 98484/49242 BAC Sep02 16/15.5 call spreads for .20.?
- The ADV is 288k contracts.?
- The OI is 50332 and 106k respectively.
The volume went up in 2 blocks on the PHLX marked spread.? The trade has sizeable open interest and the way it priced had the trader buying to close the 16 calls.? If this was a closing 1 by 2 the trader was worried about a break out this close to expiration.? Most paper has been buying calls on higher IV in BAC.
- IV 30 is trading for 25%.?
- HV10 is trading for 9%.?
- IV 30 is trading above the HV 10.
Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.